by Nate Wooley | November 5, 2012 12:27 pm
Social media company Twitter looks to be heading into direct competition with Facebook (NASDAQ:FB) acquisition Instagram now that it is developing its own photo-filtering service.
The new app from Twitter will have similar functionality to Instagram and should be available within months. Users will be able to apply filters to photos and share then with their Twitter followers, bypassing Instagram.
Earlier this year, Twitter lost out on acquiring Instagram after Facebook moved first and acquired the photo-sharing site and its popular filtering software. That led to Twitter’s decision to home-brew its own photo-sharing software. Twitter, being privately held, doesn’t have the flexibility to pay for a takeover with shares and instead would have to pay cash.
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